Ahead of the inauguration of the first Disney entertainment park in Anaheim (California) in 1954, the company’s illustrious founder Walt Disney is believed to have said “...it all started with a mouse”. Many continents away in India, the saying in the media and entertainment industry for the past two decades could well be that it all started with cricket.
And so did the story of the Reliance-Disney merger. While the blueprint for the mega deal was being drawn up by top executives at Reliance Industries (RIL) and Uday Shankar, former Disney India boss and a board member at Reliance-controlled Viacom18 Media; caught between two Bobs—Bob Iger and Bob Chapek—and a writer’s strike in Hollywood, Mickey Mouse did not know where the rollercoaster ride would end.
Months before Iger was brought back from retirement to replace Chapek as the head of Disney in November 2022, its India operations let go of the digital rights to the Indian Premier League (IPL). Bought by Viacom18 at a whopping $3 billion, the surprise was not at the bid value but at the free screening of the matches on JioCinema, a streaming service owned by Viacom18.
Shankar knew it was the end of Disney’s control of Hotstar in India.
“Jio has been disrupting the digital space aggressively over the past two years with their OTT offering JioCinema. They acquired the FIFA World Cup 2022 rights and streamed it for free. They did the same with the IPL in 2023. Through this undercutting strategy, they were broadening the number of advertisers and making it difficult for the TV rights holders,” says Lloyd Mathias, a Delhi-based business strategist and independent director.
Denne historien er fra May 2024-utgaven av Outlook Business.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent ? Logg på
Denne historien er fra May 2024-utgaven av Outlook Business.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent? Logg på
'Automation is Redefining Efficiency and Precision in Jewellery Manufacturing'
Increasing brand consciousness and awareness among consumers is helping expand the organised jewellery retail industry. MP Ahammed, chairman of Malabar Group, discusses prominent trends in the jewellery industry
BATTLE TO WIN THE AI RACE
In Supremacy, Parmy Olson tells the astonishing and behind-the-scenes story of the battle between the world’s two leading artificial intelligence firms, OpenAl and DeepMind and the continuing rivalry of its founders Sam Altman and Demis Hassabis respectively
A LEADER WHO EMPOWERS
Anshul Arzare, MD and CEO of YES SECURITIES, wants to ensure a workplace where employees not only contribute to the company's vision but also feel content
EV Unplugged
Electric vehicles are crucial to India’s climate change plan. But reliance on China for imports and technology constraints remain hurdles the sector needs to overcome
Every Lamborghini Owner is a Brand Ambassador
Regional director of Automobili Lamborghini, Francesco Scardaoni, talks to Prachi Khanna about the brand’s approach to fostering a sense of community among its vehicle owners. Edited excerpts
NO ZEST FOR ZED
A government initiative to green MSMEs is not finding enough takers
SMALL PLANTS, BIG TROUBLE
Climate-triggered stress is placing an unprecedented burden on small businesses. But a lack of access to climate aid hinders the sector's ability to adopt greener methods
'We Think About the Rider More Than Any Other Company
Rapido co-founder Aravind Sanka talks to Neeraj Thakur and Deepsekhar Choudhury about how flexibility and fair pay helped his company disrupt the Ola-Uber duopoly. Edited excerpts
LABOUR PANGS
Rising cost of living in a fast-growing economy is making workers restless
'Hustle is No Virtue'
It has become fashionable to talk about the verb “hustle” these days, especially in professional settings.
